The shareholders of Bank Respublika and AccessBank have approved the principal terms of a strategic transaction under which Bank Respublika will acquire 100 per cent of AccessBank’s shares.
The transaction is expected to be completed by November 2026. As part of the agreement, AccessBank’s existing shareholders will become shareholders of Bank Respublika by acquiring newly issued preference shares representing a total of 25 per cent of Bank Respublika’s authorised share capital.
Following the completion of the share acquisition, Bank Respublika and AccessBank will initially continue operating as separate banks. Their subsequent merger into a single banking institution will be carried out in accordance with the applicable regulatory requirements. Both institutions rank among Azerbaijan’s leading banks, recognised for their financial resilience. The planned merger reflects a joint business decision by the shareholders aimed at supporting the banks’ future growth and development.
Bank Respublika and AccessBank share similar corporate cultures and business models. Both banks place particular emphasis on supporting micro, small and medium-sized enterprises throughout all regions of Azerbaijan. The transaction will create a financial institution with a broader operational scale, stronger financial capacity and a more robust market position, enabling it to offer customers enhanced opportunities and services.
The merged bank’s total assets will reach AZN 4.5 billion, while its loan portfolio will amount to AZN 3.3 billion.
Shakir Rahimov, Chairman of Bank Respublika’s Supervisory Board
“This transaction marks the beginning of a new and significant chapter in Bank Respublika’s development. It also reflects the favourable business and investment climate established in Azerbaijan under the leadership of President Ilham Aliyev, as well as his consistent and strong support for entrepreneurship and private sector development.
Throughout the long and complex process leading to this important milestone, we have received continuous support and constructive co-operation from the Central Bank of the Republic of Azerbaijan, for which we express our sincere gratitude.
International financial institutions have been key partners of Bank Respublika for many years, contributing to our development through financing, expert support and close co-operation. As we enter the next stage of our development, we are particularly pleased that leading international financial institutions are becoming shareholders of Bank Respublika, elevating our long-standing relationships to an entirely new level of partnership.”
Oleg Ivaniychuk, Chairman of AccessBank’s Supervisory Board
“Back in 2018–2019, AccessBank’s international institutional creditors joined forces to support the Bank’s successful restructuring and recapitalisation. Under the leadership of the Asian Development Bank (ADB) and responsAbility, the restructuring enabled institutional creditors to become the Bank’s new shareholders, strengthened corporate governance, and supported a comprehensive transformation and improvement of the Bank’s operations.
Since then, AccessBank has evolved into a strong, high-performing and efficiently managed financial institution that has made a significant contribution to the development of Azerbaijan’s banking sector, as well as to financing entrepreneurs and businesses across the country.
Today, we are taking the next important step along that path. Maintaining their long-term commitment to the development of Azerbaijan’s private and financial sectors, AccessBank’s international shareholders are entrusting the Bank’s next stage of development to Bank Respublika, one of the country’s leading financial institutions.
The combination of two complementary and strong banks creates a solid foundation for future growth, expanded operations and an even greater contribution to Azerbaijan’s economy.
Reaching this important milestone has been made possible through the shared vision, determination and close co-operation of AccessBank and its shareholders, Bank Respublika and its shareholders, as well as the Central Bank of the Republic of Azerbaijan. I would also like to express my sincere appreciation to AccessBank’s management and employees, whose dedication and professionalism played a decisive role in the Bank’s successful transformation.”
The public, customers of both banks, partners and other stakeholders will be kept regularly informed about the progress of the acquisition and merger process.
